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Working with a broker means finding an experienced commercial real estate broker in Minneapolis who has been through a variety of different experiences with different types and sizes of businesses. Here is a 4 step process some brokers use to assist in selling businesses. Planning Phase The first phase in 4-step process is planning. During this phase, a broker identifies the goals and needs of the business, using information gathered from financial statements to place a value on the business. This is something that might be hard for sellers to do, because they have so much more than just business savvy invested into their companies. A broker can take a more objective approach to the process, which will help create a more effective marketing plan. Searching Phase The searching phase is the second stage in this 4-step process. During this phase, brokers will work with the seller to find a qualified buyer. It starts with a prospect list and ends with identifying the most compatible matches. However, in between, brokers will be working hard to create agreements with prospective buyers, collecting data and information, and measuring buyer interest. Negotiation Phase The third phase involves making deals and negotiating. Not every company interested in buying a business is going to jump at the first offer, nor are they likely to make an offer that a seller can’t say ‘no’ to. One of the benefits of working with a brokerage company its staff will make all the arrangements for buyers to meet with the sellers. Brokers take care of answering questions and are extremely skilled and experienced with the negotiation aspect of this process. Closing Phase Finally, the closing phase involves putting together the financing and making sure that both the buyer and seller have done their due diligence. There is always the chance that something can go wrong or that questions crop up. During this phase, brokers will answer all of these questions, review documents to make sure everything goes off without a hitch, and ensure a smooth transaction. This 4-step process will makes selling a business much easier in terms of finding a buyer and knowing how much to sell for. When a seller uses a proven process with a qualified commercial real estate broker in Minneapolis, the seller will have the peace of mind knowing that the business will be in good hands going forward.
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